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Disruptive beer maker BrewDog is aiming to become the biggest crowdfunded business of all time after formally launching its plan to raise a maximum of £50m in its latest cash call.

The Scottish-based brewer, run by founders James Watt and Martin Dickie, is launching the fifth round of its Equity For Punks crowdfunding scheme which allows individuals to buy shares in the company. It had accidentally announced the scheme last month but has now released full details.

The fundraising will run for an initial three months, closing on January 15 next year and shares will be issued in blocks of two meaning the minimum investment will be £47.50 (each single share is priced at £23.75).